Digital Economy's Contribution in India's Sustainable Economic Reinforcement

Abstract

This study investigates the role of the digital economy in enhancing India's sustainable economic development. The overall goal of this research is to aid the government in selecting the best policy for implementing the digital economy and its impact on long-term economic development, particularly in India. In India, the digital economy has grown rapidly in the sphere of ecommerce. The ecommerce sector involves more than just purchasing and selling goods and services via the internet. However, it also includes inter-service providers, telecommunications providers, and other entities. This is why the ecommerce industry must change in order to keep the economic momentum flowing further. The government is presently declaring India to be the largest digital economy in the world by 2025, with the goal of becoming the largest in Southeast Asia. The digital sector is one of the declaration's foundations of national growth. By 2023, the government hopes to have INR 2800 crores in ecommerce transactions and 1,000 technopreneurs (Technology Entrepreneurs) with a company worth of 1000 crores. As a result, this research will provide policy benefits by reinforcing state institutions in order to control the implementation of the digital economy in India, which will have a positive impact on the community's ability to prosper while also having a favorable effect on the environment and rising financial benefit.